Business / Companies
ZSE Market report:- Industrials wallows in the red
12 Mar 2013 at 07:41hrs | Views
ZSE's Industrials stayed in the red on Tuesday after an uninspiring session where only 4 counters managed gains against 6 that traded lower while 19 remained unchanged from previous levels.
There were gains in BAT, Delta and Old Mutual but these failed to outweigh losses in Econet, OK Zimbabwe and SeedCo resulting in the Industrials closing in the red for the second straight session.
Total market turnover however improved to $3,251 million on a volume of 12.31 million shares compared with $928 285 on 11.17 million shares that traded yesterday.
The Industrials Index thus lost 2.15 points or 1.13% to 187.83 while the Minings Index remained stuck at 68.12 as no trades were recorded in the resources sector.
Econet dropped another 5c to 65c after significant deals worth $1,054 million as investors continue to recoup profits made in the aftermath of its 10 for 1 share split Econet has lost 15.58% on its all-time best price of 77c.
Retailer OK Zimbabwe was 0.10c weaker at 19.9c while SeedCo eased 5c to 65c after publishing a profit warning statement saying financials will be lower than last year.
CBZ eased 1c to 15c while DZLH was 1c lower at 29c. Zimplow which listed new shares yesterday remained stable at 4.5c.
Delta recovered another 0.50c to 121.5c in deals worth $619 916 but still remains 3.98% from its best level of 126.01 c reached on January 31.
BAT, which is still shining on upbeat December financials, added another 5c to another all-time high of 735c and this takes its gains since January 1 to 104.2%.
Old Mutual, which declared a final dividend of 5.25p in its preliminary results to December 31, advanced 4c to 224c, another all-time best level.
The Datvest All Share Index dropped 222 points or 1.71% to 127.84 while the FBC ZSE-10 Index packed in to losses in Econet and OK Zimbabwe to close 1.99% weaker at 134.27.
There were gains in BAT, Delta and Old Mutual but these failed to outweigh losses in Econet, OK Zimbabwe and SeedCo resulting in the Industrials closing in the red for the second straight session.
Total market turnover however improved to $3,251 million on a volume of 12.31 million shares compared with $928 285 on 11.17 million shares that traded yesterday.
The Industrials Index thus lost 2.15 points or 1.13% to 187.83 while the Minings Index remained stuck at 68.12 as no trades were recorded in the resources sector.
Econet dropped another 5c to 65c after significant deals worth $1,054 million as investors continue to recoup profits made in the aftermath of its 10 for 1 share split Econet has lost 15.58% on its all-time best price of 77c.
Retailer OK Zimbabwe was 0.10c weaker at 19.9c while SeedCo eased 5c to 65c after publishing a profit warning statement saying financials will be lower than last year.
CBZ eased 1c to 15c while DZLH was 1c lower at 29c. Zimplow which listed new shares yesterday remained stable at 4.5c.
Delta recovered another 0.50c to 121.5c in deals worth $619 916 but still remains 3.98% from its best level of 126.01 c reached on January 31.
BAT, which is still shining on upbeat December financials, added another 5c to another all-time high of 735c and this takes its gains since January 1 to 104.2%.
Old Mutual, which declared a final dividend of 5.25p in its preliminary results to December 31, advanced 4c to 224c, another all-time best level.
The Datvest All Share Index dropped 222 points or 1.71% to 127.84 while the FBC ZSE-10 Index packed in to losses in Econet and OK Zimbabwe to close 1.99% weaker at 134.27.
Source - zfn
